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Mortgage market subdued & competitive but building societies are positive

Released today, lending and savings figures from the building society sector for the three months to June¹ show that the sector accounted for over a third (37%) of the growth in the mortgage market, and took more than a quarter (27%) of cash savings deposits. 

  • Date: 13 August 2018
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Cash ISA Transfer Performance – Q2 2018

Between 1 January and 30 June 2018, 89% of cash ISA transfers have been completed within seven working days, above the 85% commitment made by the BSA, UK Finance and TISA.

  • Date: 03 August 2018
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BSA comments after Monetary Policy Committee increases Bank Base Rate

Commenting on today’s Bank Base Rate rise, Paul Broadhead, Head of Mortgage and Housing Policy at the BSA said:

“Today’s MPC decision means the Bank Base Rate is now at its highest level for over nine years, although interest rates still remain low relative to their historic averages. 

  • Date: 02 August 2018
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BSA publishes submission to FCA Mortgages Market Study interim report

BSA publishes its submission, responding to the FCA Mortgages Market Study Interim Report as the BSA, UK Finance and IMLA announce a cross-industry voluntary commitment to help 'ineligible' borrowers tied to reversion rates switch products     

  • Date: 31 July 2018
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Lenders to help 'ineligible' homeowners tied to reversion rates switch products

BSA, UK Finance and IMLA announce a cross-industry voluntary commitment to help 'ineligible' borrowers tied to reversion rates switch products.  The agreement has been reached between 59 lenders covering 93% of the mortgage market.;     

  • Date: 31 July 2018
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The BSA comments on the FCA 'Price discrimination in the cash savings market' paper

“The BSA welcomes the FCA’s discussion paper on Price discrimination in the cash savings market.

“The paper notes that building societies ‘tend to offer higher interest rates than banks already and many have relatively small back-books’. This is reinforced in recent independent Savings Champion data...

  • Date: 25 July 2018
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Building societies continue to dominate the battle for best savings rates

Independent research from Savings Champion revealed that building societies continue to outperform banks when it comes to savings.

  • Date: 17 July 2018
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Young people gloomy about home owning prospects

Seven in 10 (70%) of us say that the difficulties young people have getting onto the housing ladder is one of the biggest problems we have in Britain today.

  • Date: 26 June 2018
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Building societies perform well in first quarter of 2018

Released today, lending and savings figures from the BSA for Q1 2018 show that building societies were accountable for 43% of the growth in the mortgage market, and took 40% of cash savings deposits between January and March.

  • Date: 29 May 2018
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New Chair elected at Building Societies Association

Stephen Mitcham, Chief Executive of Cambridge Building Society has been elected as the new Chair of the Building Societies Association.  Stephen who has held the post of Deputy Chair since May 2017 takes over from Jonathan Westhoff, Chief Executive of the West Brom. 

  • Date: 24 May 2018
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Board agendas and new studies at the 2018 BSA Conference

In the opening speech of the two-day BSA Annual Conference in Manchester, BSA Chief Executive Robin Fieth outlined the seven themes which should be on every building society board agenda.

  • Date: 23 May 2018
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The BSA comments on FCA Mortgage Market Study

“It is positive to see the FCA recognise that there are high levels of customer engagement in the mortgage market and that the commercial relationships between lenders and mortgage brokers broadly work. Although the study focuses on increasing consumer choice early in the process there appears to be a lack of consistency in the approach from price comparison websites...

  • Date: 04 May 2018
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